This comes after stock markets soared Tuesday when U.S. traders returned from the Labor Day long weekend.

2. Oil falls again: In commodities, crude oil futures are dipping by about 2% to trade around $45 per barrel. The chances of another slump in prices to near $20 per barrel are rising, Goldman Sachs said in a new report Friday. But the supply glut should ease in 2016 as OPEC's rivals -- and in particular the U.S. -- slash production, the International Energy Agency said.

4. Russian rates: Russia's central bank is set to make a decision on interest rates at around 6:30 a.m. ET. The benchmark interest rate is currently set at 11% and has come down from a recent high of 17%.